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Malabu Oil Deal: Nigerian government's $1bn lawsuit against Shell and Eni struck out - Printable Version +- Forums (http://contripeople.com) +-- Forum: Retired Forums (http://contripeople.com/forumdisplay.php?fid=78) +--- Forum: Retired Forums. Please Make Your Post Within The 3 Forums In General Discussion (http://contripeople.com/forumdisplay.php?fid=49) +---- Forum: Oil/Gas (http://contripeople.com/forumdisplay.php?fid=41) +---- Thread: Malabu Oil Deal: Nigerian government's $1bn lawsuit against Shell and Eni struck out (/showthread.php?tid=33744) |
Malabu Oil Deal: Nigerian government's $1bn lawsuit against Shell and Eni struck out - Edoman - 05-22-2020 Malabu Oil Deal: Nigerian government's $1bn lawsuit against Shell and Eni struck out by UK court The Nigerian government's $1 billion lawsuit against oil giants; Royal Dutch Shell and Eni, has been dismissed by a UK court on grounds of lacking the jurisdiction to hear the case centered on the Malabu oil deal of 2011. British Judge, Christopher Butcher who gave the ruling in a virtual hearing on Friday May 22, said the cased could not go ahead in England, and also denied the Nigerian government the permission to appeal against the judgment. Barnaby Pace, a journalist and oil campaigner who monitored the judgement which has set back the long standing trial, tweeted; Quote:Justice Butcher of the English Commercial Court should rule this morning whether Nigeria's $1bn lawsuit against Shell and Eni over alleged bribery in the massive OPL 245 deal will go ahead in the UK or struck out as being duplicative of the ongoing proceedings in Italy. The Nigerian government had sued Shell and ENI for $1.1 billion in 2011 over the licencing of OML 245 which the nation claims the said companies made it miss as a result of bribes they paid to Malabu oil, owned by former Minister of Petroleum Dan Etete. While Shell and ENI paid a signature bonus of $210 million to the federal government, they paid $1.1 billion to buy 100 percent interest in the oil block from Malabu. The entire $1.3 billion was transferred to the account of the federal government in London, UK, from where Malabu was paid its $1.1 billion. However both oil companies have denied the bribery allegations, with Eni saying it made no profit from the deal because “Nigeria declined to grant a mining license”. |